Property Information

Location

Miles

56 miles south of Edinburgh

65 miles north of Newcastle

Roads

A1167, A1

Rail

Berwick-upon-Tweed Railway Station

Air

Newcastle Airport, Edinburgh Airport

Situation

The property is prominently situated on the south side of Marygate, in the heart of the town’s prime retail pitch. Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone.

Tenure

Freehold.

Description

The property comprises a lock-up retail unit on the ground floor and two vacant upper floors. The upper floors are accessed via the shop and are suitable for residential conversion, with existing planning consent granted for a 3-4 bedroom maisonette under reference 18/00053/LBC.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor

Use

Floor Areas (Approx)

Tenant

Term

Rent p.a.x

Reversion

Ground

Retail

112.87 sq m

(1,215 sq ft)

NERO HOLDINGS LIMITED t/a Caffè Nero (1)

5 years from 14/10/2016 on a full repairing and insuring lease

£23,000

13/10/2021

First Second

59.64 sq m 67.07 sq m

(642 sq ft) (722 sq ft)

VACANT POSSESSION

Total

239.58 sq m

(2,579 sq ft)

£23,000

(1) Caffè Nero is one of the largest coffee shop retailers in the UK and currently trades from more than 650 sites in the UK. For the year ending 31st May 2017, Nero Holdings Limited reported a turnover of £264,897,000, pre-tax profits of £25,896,000 and a total net worth of £217,488,000 (Source: Experian Group 8/11/2018).